China’s Cryptocurrency Can’t Fuel Financial Hegemony

Despite being the world’s second largest economy, the Chinese yuan is painfully far behind in its share of global transactions — a digital yuan is unlikely to change that.

Patrick Tan
Published in
7 min readFeb 12, 2020

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The search for the perfect tip calculator started here. (Image by William Iven from Pixabay)

Thomas Fillmore was quietly fuming. His body language made it obvious he was upset, but to his three friends seated at the table with him, they either couldn’t care less, or hadn’t noticed his folded arms and furrowed brow.

Noticing their indifference, Fillmore cleared his throat loudly as he inspected the bill that had been presented by the waitress,

“Now see here gents, I don’t see why we should be splitting this bill four ways.”

“I only had a beer, Doug here had a burger and two beers, Jim had the nachos and a beer and Frank had a hot dog and a beer, it’s not fair.”

A collective, yet resigned groan emanated from the trio seated at the table. Doug interjected,

“Fine, what do you suggest then?”

Fillmore whipped out his smartphone and started hammering away on his calculator app,

“Well, including tax and tips, my total amounts to seven bucks forty-seven, Doug, yours amounts to…”

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Patrick Tan

General Counsel for ChainArgos, the blockchain intelligence firm made famous for breaking the story that BUSD was unbacked by US$1.4bn